god_of_money wrote:
good tool to bargain with the RE agent.. as they are always lying to you on how long the property has been on market

A real estate agent lying? No way. never. cannot be!

duckster wrote:
My parents have a strange situation the original real estate agent didn't collect bond and the real estate agents that took over the original real estate business didn't check if their was a bond against each rental property.So now that the tenants done damage and a runner my parents have no bond money.I reckon they should claim…[Read more]

wow, that is an excellent site. thanks

You has a misspelling in the linkhttp://www.propertycalculator.net/

mattnz wrote:
I am about to purchase property in the new Wyndham Cove Marina. I am high on their list of those that have registered and will have the opportunity to secure a prime piece of waterfront real estate (and a marina berth) in this new development. The initial land release is significantly oversubscribed and appears to have very high…[Read more]

hi JohnJust do the sums for with a trust and with the place in a personal name. (although remember tax is just one aspect). If there is a loss see how long it will take to turn around. Factor in any tax savings you would have in your own name – buying in your own name could mean you can get another one sooner too.Then research trusts more, become…[Read more]

Credit unions are usually pretty good for personal loans. You may be able to use an existing vehicle as security and get a lower rate too.

Sometimes selling can make sense, especially if you have huge equity in an IP and you can use that to pay off your PPOR.But other than that you can afford to buy a new PPOR if your income and rents are high enough. Don't forget that rents helps servicing a lot.

c9806103 wrote:
Thanks once again Terry.  That was again very helpful.The offset vs redraw tax advantages now seem very clear.So to check my understanding, is this correct:The essence of changing to an IO loan, is that the repayments are smaller than for a P&I loan. This means that each month, I will be left over with more spare cash from the…[Read more]

You can't set up a trust after you have purchased – or you will need to sell to the trust. it is easy to do but costly as you will have to pay stamp duty and probably CGT tax as well as legals and loan exit and app fees again.

I think you have it slightly squewed.Lets work thru some rough figures.Your current loan is $293,000. I recommending changing this to IO for many reasons – the main one is taxaxtion. eg may explain it better:Say you had $50,000 in savings. You could deposit this on the loan (plan A)  and the balance will be $243,000. Or you could put it in an…[Read more]

I also would recommend a IO loan with an offset. Using PI means you are paying down the loan and have less cash available for a new PPOR later on.Having multiple trustees is not good from an asset protection pov, but you can often have relatives guarantee trust loans if need be as they are beneficiaries of the trust. Having a company as trustee…[Read more]

You may not receive a notice from the ATO. They only send these out to encourage people to do their returns on time.Due date would be the same as company/individuals which is the end of Oct I think, but if you lodge thru a tax agent this is extended till next year.

Since they have paid their house off it may be easier for them to just give their property as security in addition to yours and then you borrow 105% of the purchase price of the new one.But, this is extremely risky and they could lose their property if things go wrong. Imagine if your property drops slightly and you cannot pay the loan. The legal…[Read more]

hi DeanThats true about land tax in NSW. But once you have a few properties you will be paying land tax on them anyway. The exemption only applies to the first $370,000 or so.If you have 2 children they can earn about $3,000 pa each without paying tax. An adult can earn approx $15,000 pa without paying tax.So say you had a property portfolio…[Read more]

hi HBLenders will want to include loans that someone has guaranteed in serviceability too.Business is extremely risky, so it is not a good idea to run a business like that. Better to set up a company to limit liability. You can have the shares owned by your trust.For spouses you can have the ownership of the property in 1 name with both names on…[Read more]

by being a guarantor that means they are putting their property on the line. It would be much safer if they could just lend you 20% – but this would all depend on their situation as well and may not be possible. read as many books as you can including 0 to 35.by modest, i mean as cheap as you can get for your area – but within reason.

I should also add you can only claim one place as your main residence at any one time.

You can only claim a place as your main residence after you have moved in. So not living there wouldn't qualify. Moving in later would qualify from that time, but the period in which it was rented can't count for the CGT exemption.

It is best to change the loan to Interest only asap. Each dollar you pay means a dollar less for your new home which means more non-deductible borrowings. Set up a 100% offset so it will save you the same interest as if you were paying down the loan.Yes, set up another loan for the deposit, but probably not a LOC, just a IO loan will do as the…[Read more]